THE ACQUISITION PROGRAM
What To Expect When The Corps Buys Your Property
Seven Steps To Purchasing Your Property
1.) Application: This is a voluntary program. If you want to be in the program, you must apply. Making an application does not commit you, but it does give the Corps or its contractor permission to come onto your land for surveying, enviromental inspections, appraisal purposes, etc.Note:  Completing and application does not commit you to sell your property, however, there are fees associated with withdrawing from the program. For more information see Landowner Cost.
Landowners:  Your application requires a copy of your property deed and a current tax statement. If you do not have the needed information, your application can not be processed. If a tenant rents your property, the tenant must also apply for you to participate in the program.
Tenants:  You may participate in the program if the landowner also applies. Please include the name, address, and phone number of your landlord on your application.
Mobile Home Owners:  If you own a mobile home, please submit a copy of your mobile home title with the application.
Remember:  To process your application and avoid delays, please submit the required information.Point Of Contact For Applications: Sharon Hay or Kelly Sexton Phone: 1-888-841-9649 2.) Legal Description:  A written description of the boundaries of your property will be prepared. The description will be based on a survey (if needed) or the block and lot description from your deed. 3.) Enviromental Inspections:  While the legal description is being prepared, an enviromental team will inspect your property for possible hazardous materials. We will notify you if a problem exists. Your tract will be withdrawn from the project until you have cleaned the site to meet local, state and federal laws.4.) Title Search:  The Corps will have a title search done on your property. An attorney will check courthouse records regarding ownership, liens, easements, and other issues that may affect the property. The project attorneys will work with you on any problems that may arise from the title search. However, it is important for you to know that you are responsible for correcting title problems.5.) Appraisal:  The Government is required to pay the fair market value for properties being purchased. In order to develop this value, a licensed Appraiser wil contact you and arrange an appointment to inspect your property. When the appraisal report is completed, another licensed appraiser reviews the report for accuracy, consistency among property values and consideration of all elements of value.6.) Negotiations:  We will send you a letter to open negotiations. The negotiator will meet with you to discuss the details of the purchase of your property. It is our goal to negotiate an agreeable price with you. If we do, you will be asked to sign a contract known as an Offer to Sell Real Property. You will have six months to move from the property. If you have not moved within six months, you will be charged 1% of the purchase price of your property for rent.If we are unable to reach an agreement to price, you may request that the United States District Court determine the value. This action, also known as condemnation, allows both the landowner and the Government to present evidence regarding the value of the property. The Government will deposit its estimate of fair market value with the court. The money can be withdrawn with the approval of the Court. Remember:   Condemnation is voluntary and occurs only at the landowner's request.You may also withdraw from the project at any point up to the time of signing of a contract with the Government (however, there may be fees to withdraw, see Landowner Cost ). You may not reapply to participate in the project if you withdraw. 7.) Relocations:  In addition to the money you receive for your property, you may be eligible for relocation benefits under Public Law 91-646. These benefits are separate from and in addition to the purchase price paid. A relocation advisor assigned to you during negotiations will explain the benefits, assist you in the move to your new property, and help you make application for the benefits you are eligible to receive.Point Of Contact For Acquisition Status:  Kenneth Bumgardner - Chief, Acquisition Branch 1-888-841-9649. Words Landowners Should Know Acquisition:  To buy your property
Appraiser:  A person trained in estimating the value of property.
Appraisal:   A report showing how the property value was made.CIAD:  Community Improvement Assessment District (not applicable to all projects).Closing:  The date you sign the deed to the sponsor and receive the money for your property. Comparable Sales:  Properties that have sold and which are considered similar to the property being appraised.Converted:  The change from one program to another (example, floodproof to acquisition; acuisition to floodproof)Fair Market Value:  The price a willing buyer would pay a willing seller of property, neither being obligated to buy or sell.Floodproof:   To remain on site in a flood safe structure.Legal Description:  A written description of the boundaries of your property.Negotiations:  To discuss and work out the purchase of your property. Offer to Sell:  The contract you sign when you agree to sell your home.Title Search:  A review of courthouse records to confirm ownership and interests in property. Tract:  A parcel of land.Tract No.:  Reference number assigned to each property.Vacation of Property:  To move from your property.202 Program:  The acquisition and floodproofing of homes and businesses in the Tug Fork Valley.The Tug Fork 202 Program Section 202 of the 1981 Energy and Water Development Appropriation Act authorized the acquisition and floodproofing of homes and businesses in the Tug Fork Valley.Section 103 of the 1986 Water Resource and Development Act required all future flood control projects to be cost-shared with a local sponsor. The Tug Fork Real Estate Staff
Project Manager: Kenneth Bumgardner Attorneys: Brad Stark Negotiators: Sharon Hay and Kelly Sexton Relocations Advisors: Lynda B. Keith, Margie Farley, and La Vada Richards Appraiser: George Thornbury Realty Assistant: Linda Freeman Clerical Staff: Amy Ford Our mission is to provide professional, high quality service in a compassionate and respectful manner while working with our customers to achieve flood protection in the Tug Fork Valley.
The Tug fork Real Estate Project Office Next
|